Alliance Entertainment Holding Corporation (NASDAQ:AENT) Short Interest Up 22.7% in February

Alliance Entertainment Holding Corporation (NASDAQ:AENT) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 500,254 shares, a growth of 22.7% from the January 29th total of 407,655 shares. Based on an average trading volume of 151,331 shares, the short-interest ratio is currently 3.3 days. Currently, 4.4% of the shares of the stock are short sold. Currently, 4.4% of the shares of the stock are short sold. Based on an average trading volume of 151,331 shares, the short-interest ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

AENT has been the topic of several recent analyst reports. Wall Street Zen cut Alliance Entertainment from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Maxim Group set a $8.00 target price on shares of Alliance Entertainment in a report on Friday, February 13th. Zacks Research lowered shares of Alliance Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alliance Entertainment in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Alliance Entertainment presently has an average rating of “Hold” and a consensus target price of $10.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AENT. XTX Topco Ltd purchased a new position in Alliance Entertainment in the second quarter worth about $59,000. Quadrature Capital Ltd purchased a new position in shares of Alliance Entertainment in the 4th quarter worth approximately $143,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Alliance Entertainment in the 3rd quarter worth approximately $193,000. Ritholtz Wealth Management bought a new position in shares of Alliance Entertainment during the 3rd quarter valued at approximately $290,000. Finally, Empowered Funds LLC raised its holdings in Alliance Entertainment by 9.2% during the 1st quarter. Empowered Funds LLC now owns 90,880 shares of the company’s stock valued at $304,000 after buying an additional 7,683 shares during the period. Institutional investors own 0.27% of the company’s stock.

Alliance Entertainment Stock Up 6.8%

NASDAQ AENT opened at $6.63 on Thursday. The stock has a 50 day moving average price of $6.88 and a 200-day moving average price of $6.65. Alliance Entertainment has a one year low of $2.21 and a one year high of $8.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 1.35. The company has a market capitalization of $337.86 million, a P/E ratio of 15.42 and a beta of 0.51.

Alliance Entertainment (NASDAQ:AENT) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.13). Alliance Entertainment had a return on equity of 20.53% and a net margin of 2.06%.The business had revenue of $368.71 million during the quarter, compared to the consensus estimate of $427.38 million.

Alliance Entertainment Company Profile

Alliance Entertainment (NASDAQ: AENT) is a distributor of physical media and related entertainment products, serving retailers, public libraries and online merchants. The company’s core business revolves around the wholesale distribution of music and video titles on CD, DVD and Blu-ray formats, as well as vinyl records, audiobooks, video games and select gift and novelty items. By maintaining a broad catalog of new and catalog titles, Alliance Entertainment enables brick-and-mortar and e-commerce channels to access an extensive range of products from major and independent labels.

In addition to its product offerings, Alliance Entertainment provides supply-chain and logistics services designed to streamline inventory management and order fulfillment.